Shilpa Shetty, Raj Kundra face look out circular in 60 crore fraud case

Shilpa Shetty Case: Bollywood actress Shilpa Shetty and her husband Raj Kundra are once again seen getting into legal troubles. Economic Offenses Wing (EOW) of Mumbai has registered a case against them on charges of fraud. There is a case of cheating of Rs 60 crore from a businessman against them which is currently in the news. Now the EOW was preparing to issue a lookout circular (LOC) against both of them moving forward in this matter. In this sequence, now the police has issued a lookout notice. Meaning that now the movement of the couple will be taken care of and they will not even be allowed to go out of the country.

What is the whole matter?

A businessman named Deepak Kothari has accused Bollywood actress Shilpa Shetty and her husband Raj Kundra of fraud of more than Rs 60 crore between 2015 and 2023. Kothari claims that he had invested this money in the couple's company Best Deal TV Pvt. Ltd. to expand the business, but the person alleges that the money has been used for personal expenses which is wrong.  Also Read: Bhojpuri Superstar Pawan Singh Brings Swag to Amazon MX Player’s Rise & Fall

According to reports, in the year 2015, Kothari was associated with Shilpa Shetty and Raj Kundra's company through an agent. This company mainly ran an online shopping platform. According to the complainant, when this company needed Rs 75 crore, it converted the loan into an investment to save tax. During this time, Kothari invested Rs 60 crore 48 lakh in the company in different installments. The complainant also says that in April 2016, Bollywood actress Shilpa Shetty herself gave a personal guarantee to return the money. But everything did not happen like this. After some time Shilpa Shetty resigned from the post of director of this company and the company went bankrupt. But Kothari did not deem it necessary to share any information about this.

What was said when he asked for his money back?

When Kothari asked for his money back from the company, he was constantly put off and his money was not returned for 9 years. Now in this case EOW has filed an FIR under section 403, 406 and 34 of Indian Penal Code (IPC). Now the police has started its investigation in this case. In the whole case, the police is currently trying to know where the invested money flowed and for what purpose it was used.

Police is tightening its grip

In this sequence, the police is investigating the travel records of the couple and taking action, has issued a lookout circular. In such a situation, the problems of Shilpa and Raj Kundra have increased further and they may also face difficulties in leaving the country. Also Read: Rise & Fall Promo: Aarush Bhola, Arbaz Patel’s Heated Clash Goes Viral